[ZachXBT: Circle Blacklists Zama's Ethereum cUSDC Contract, Freezing $12.6 Million] According to a report by Jinse Finance, 'on-chain detective' ZachXBT disclosed on his personal channel that stablecoin issuer Circle has blacklisted the Confidential USDC (cUSDC) contract of privacy protocol Zama on Ethereum, resulting in approximately $12.6 million USDC being frozen within the contract. Currently, neither Circle nor Zama has publicly explained the specific reasons for this freezing action. cUSDC is a privacy-focused version of USDC launched by Zama, based on Fully Homomorphic Encryption (FHE) technology, aimed at protecting the privacy of transaction amounts and account balances on-chain.